News Snapshot:
The S & P/ASX 200 leapt 0.8 per cent to a six-month high in early trade on Wednesday, with the resources sector doing most of the heavy lifting. While the Reserve Bank of New Zealand increased the cash rate by a record 0.75 percentage points to 4.25 per cent, the highest level since 2008. New Zealand’s central bank now expects rates to peak at 5.5 per cent next year, plunging the economy into recession in mid-2023. Fed pivot Investor sentiment continues to be buoyed by expectations the Fed will slow the pace of rate increases in December, with officials hinting...
